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Virginia’s sports betting market continued to grow in October 2024, with operators recording $696 million in total wagers. This marks a 21.8% increase compared to the $571 million handle from October 2023. The Virginia Lottery’s latest report highlights the dominance of online betting and a decline in revenue hold compared to last year.
Mobile platforms accounted for over 99% of the handle, amassing $692.2 million in bets. In contrast, retail sportsbooks in Virginia contributed just $3.9 million to the overall total. Operators collectively earned $49 million in adjusted gross revenue, equating to a 7.8% hold—a drop from 11.2% in October 2023.
While the handle rose by 11.9% from September, revenue dipped 25.6% month-over-month, falling from $65.9 million. Operators contributed over $7.3 million in taxes, which support the state’s General Fund and the Problem Gambling Treatment and Support Fund, managed by the Virginia Department of Behavioral Health and Developmental Services.
The lower hold aligns with favorable outcomes for NFL bettors nationwide and strong October performances by Virginia’s favorite team, the Washington Commanders. Despite Virginia lacking a major league sports franchise within its borders, the Commanders, headquartered in Northern Virginia, enjoy widespread support.
In October, the Commanders had a solid showing, winning three of four games against teams like the Cleveland Browns, Carolina Panthers, and Chicago Bears. Their overall record stands at seven wins and five losses for the season, fueling betting enthusiasm across the state.
Virginia’s bettors can choose from 12 online sportsbooks and three retail operators. The online lineup includes DraftKings, FanDuel, BetMGM, Caesars, bet365, ESPN BET, and others. Sporttrade, the state’s newest entrant, launched in late October, promising to further boost future betting handles.
With its continued growth, Virginia remains a competitive and dynamic sports betting market, showcasing the popularity of both online and retail options.